ROCKPOINT GAS STORAGE INC. PRICES UPSIZED INITIAL PUBLIC OFFERING

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

Supplemented PREP prospectus and any amendment will be accessible through SEDAR+ within two business days

CALGARY, AB, Oct. 8, 2025 /CNW/ - Rockpoint Gas Storage Inc. ("Rockpoint" or the "Company") announces today that it has priced its upsized initial public offering of 32,000,000 class "A" common shares ("Class A Shares") at a price of C$22.00 per Class A Share for gross proceeds of approximately C$704,000,000 (the "Offering") following the filing of a final base PREP prospectus with the securities regulatory authorities in each of the provinces and territories in Canada. Certain selling shareholders have granted the underwriters an option (the "Over-Allotment Option") to acquire up to an additional 4,800,000 Class A Shares, exercisable at any time, in whole or in part, until 30 days after the closing date of the Offering, to cover over-allotments, if any, and for market stabilization purposes.

The Offering is being made through a syndicate of underwriters led by RBC Capital Markets and J.P. Morgan, as joint lead bookrunning managers, and including Wells Fargo Securities, BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., ATB Capital Markets, Desjardins Capital Markets and Peters & Co. Limited.

Following completion of the Offering, affiliates of Brookfield Asset Management Private Institutional Capital Adviser (Canada), L.P. ("Brookfield") will own approximately 39.8% of the 53,200,000 outstanding Class A Shares (30.8% if the Over-Allotment Option is exercised in full) and all of the Company's 79,800,000 outstanding class "B" voting shares, comprising approximately 75.9% of the votes attached to the 133,000,000 total outstanding shares of the Company (72.3% if the Over-Allotment Option is exercised in full).

The closing of the Offering is expected to occur on or about October 15, 2025, subject to customary closing conditions. The Class A Shares will begin trading on the Toronto Stock Exchange (the "TSX") on an "if, as and when issued basis" on October 9, 2025 under the symbol "RGSI". The TSX has conditionally approved the listing of the Class A Shares, subject to fulfilling customary TSX requirements.

The supplemented PREP prospectus, containing pricing information and other important information relating to the Company, the Class A Shares and the Offering and any amendment will be accessible within two business days under the Company's profile on SEDAR+ at www.sedarplus.com. Access to the supplemented PREP prospectus is provided in accordance with securities legislation relating to procedures for providing access to a supplemented PREP prospectus. An electronic or paper copy of the supplemented PREP prospectus and any amendment may be obtained, without charge, from any of the following by providing any of them with an email address or address, as applicable, from: RBC Dominion Securities Inc. by mail at Attention: Distribution Centre, RBC Wellington Square, 8^th Floor, 180 Wellington Street West, Toronto, Ontario, Canada, M5J 0C2 and by e-mail at [email protected]; or J.P. Morgan Securities Canada Inc. by mail at Attention: Equity Sales Desk, Suite 4500, TD Bank Tower, 66 Wellington Street West, Toronto, Ontario, Canada, M5K 1E7.

No securities regulatory authority has either approved or disapproved the contents of this press release. The Class A Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to a U.S. person (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to certain exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Class A Shares in the United States, nor shall there be any sale of the Class A Shares in any state or other jurisdiction in the United States to any person or entity to which it is unlawful to make such offer, sale or solicitation in such state or jurisdiction.

About Rockpoint Gas Storage

Rockpoint Gas Storage is the largest independent pure play operator of natural gas storage facilities in North America. Rockpoint Gas Storage owns and operates six strategically located natural gas storage facilities with a combined effective working gas storage capacity of approximately 280 Bcf that is critical for ensuring the reliable and stable supply of natural gas in its service areas. The Company believes that the assets are uniquely positioned to capture the benefits associated with growing natural gas demand, particularly from LNG, gas-fired power generation to support data centre growth, oil sands and electrification broadly. Rockpoint Gas Storage's business strategy is to optimize its storage platform to capitalize on these demand trends and offer its customers unique and highly customizable natural gas storage solutions which are critical to their operations.

Proudly headquartered in Calgary, Alberta, Rockpoint Gas Storage's asset portfolio has a 37-year operating history and is managed by an industry leading and highly experienced management team.

Forward-Looking Statements

This press release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the Offering, including the closing and the timing thereof, the filing of the supplemented PREP prospectus, the business and prospects of Rockpoint Gas Storage and market conditions. Forward-looking statements are statements that are prospective in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Although management believes the expectations reflected in such forward-looking statements are reasonable and represent the Company's internal expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties and may not prove to be accurate and certain objectives and strategic goals may not be achieved. A variety of factors, many of which are beyond the Company's control, could cause actual results in future periods to differ materially from current expectations of events or results expressed or implied by such forward-looking statements, including the risks identified in the supplemented PREP prospectus, including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements, which speak only as of the date of this press release. Except as required by applicable securities laws, Rockpoint undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made.

SOURCE Rockpoint Gas Storage Inc.

Contacts: Rockpoint Gas Storage Inc. - [email protected]